Pay package totals $8.3M for US Steel's CEO

AP News
Posted: Mar 22, 2011 1:46 PM
Pay package totals $8.3M for US Steel's CEO

United States Steel Corp. CEO John P. Surma's total compensation rose to $8.3 million last year after his stock awards and full salary were reinstated because of improving business conditions.

The bulk of Surma's compensation came in stock and option awards valued at about $6.5 million, according to an Associated Press calculation of figures disclosed in a recent regulatory filing.

That compared with total compensation of $1.5 million in 2009 when Surma took a salary cut and refused stock awards as the manufacturer struggled amid poor demand.

The AP calculation is based on a regulatory filing. It aims to isolate the value company boards place on CEOs' total compensation package. It includes salary, bonus, incentives, perks and the estimated value of stock options and awards.